Chicago Real Estate News & Neighborhood Notes

What's Currently For Sale in Chicago at $10 Million & Up?

Since the record breaking sale of the penthouse at Trump Tower Chicago, it’s been a little while since we’ve checked in on some of downtown Chicago’s most expensive properties on the market.

As of today, just 10 listings are currently active on the Chicago real estate market for $10 million and over—appropriately enough—and as you can see below, some like the single-family mansion at 1547 N. Dearborn and the penthouse at 189 E. Lake Shore Drive are relatively familiar to those of us working in the industry every day, while others like the 7,100 square foot, full-floor condo at 9 W. Walton only just recently hit the MLS®.

Despite the luxury market being extremely hot right now in Chicago, when dealing with this sort of price level, it’s of course common…

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Condos at No. 9 Walton Development in the Gold Coast Hit the MLS®

In case you missed it, units for the luxurious new No. 9 Walton development have officially hit the MLS®, opening the door for anyone who might want to get in early at one of Downtown Chicago’s newest luxury condo towers in the Gold Coast.

As of today, just 6 units are listed on local MLS®—one 2-bedroom, two 3-bedrooms, one 4-bedroom, and one 5-bedroom. Prices for listed condos at No. 9. Walton range from $1,950,000 for the 1,950 square foot two-bedroom to $12 million for the 7,089 square foot five bedroom.

News for the No. 9 Walton condo project only broke back in March, so developers are wasting little time getting each of the 67 total planned residences on the market and ready for buyers to act. In all, No. 9 Walton, which will be located on the…

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Changes Coming This Summer to Navy Pier

Changes are coming to the state’s most popular tourist attraction, and a new ordinance that was just introduced by Mayor Emanuel is raising some eye brows. According to reports, visitors to Navy Pier this summer will now be able to consume and carry open containers of alcohol both inside and outside the pier, as long as patrons purchase the alcohol there.

As part of the new ordinance, anyone consuming alcohol in or around Navy Pier must be doing so out of a disposable cup that clearly identifies the name of the establishment in which the beverage was purchased. In addition, alcoholic beverages MUST NOT be brought into or consumed inside the Navy Pier parking area or any other prohibited area designated by authorities, with violators faces steep fines…

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2015 Downtown Sound: A Look at This Year's Free Concert Series at Jay Pritzker Pavillion

As most of us already know, one of the coolest things about living in Chicago is all the different outdoor events, concerts, and festivals that happen all summer long. From the various neighborhood street fests to all the fabulous concerts in Grant Park, there’s nothing quite like summer in Chicago, and we can’t wait for this year’s season to begin.

Although any list of great summertime activities in Chicago is hard to narrow down, one of our favorite things to check out every year are all the free concerts at Millennium Park and the Jay Pritzker Pavillion. Referred to as Downtown Sound, this series of incredible musical performances will actually be held on Mondays and Thursdays this year—an expansion of what was previously just Monday evenings in…

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What to Do in Chicago Over Memorial Day Weekend 2015

Memorial Day is one of the best holiday weekends of the year. It’s the unofficial kickoff of summer, the weather is still somewhat mild, and it’s of course the perfect time to honor all those brave men and women who made the ultimate sacrifice while protecting our country’s freedom.

Nobody knows how to celebrate Memorial Day Weekend quite like us Chicagoans, and there’s no better way to kickoff the annual festivities than attending the nation’s largest Memorial Day parades in the Loop. But along with that, there’s usually a long list of events, activities, and things to do during the long 3-day weekend, and 2015 is certainly no different.

For our reader’s convenience, here’s a short list of things going on in Chicago over Memorial Day Weekend 2015, and…

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Four Affordable West Loop Loft Buildings

Despite the luxury market being red hot around downtown Chicago, plenty of home buyers out there are still looking for affordability in a new place to call home, especially all the Millennials who are finally starting to test the waters of home ownership for the very first time. But as one of the largest markets in the country, there’s certainly a lot to sift through if you’re actively browsing what’s available, and for many in Chicago, there’s nothing quite like a chic and stylish loft unit in one of the fastest growing neighborhoods in the city: the West Loop.

For years, lofts in the West Loop have been a favorite among younger professionals or those working in creative industries, but given the demand for loft spaces and the desirability most tend to…

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Luxury New Construction Condos For Sale Around Chicago

Generally speaking, everybody loves new construction condos, as there’s nothing quite like all the newest and best interior finishes to compliment the modern living spaces each new development around town has to offer. Over the last 12-18 months, or maybe even longer than that, luxury rentals have dominated the new construction market around downtown Chicago, with literally thousands of new, high-end units hitting the market over that same timeframe.

But now that the luxury market is starting to cool off—if only a little bit—luxury condominium residences around downtown Chicago and the surrounding neighborhoods are finally starting to make a comeback. In the Gold Coast, developments like 4 E. Elm and 9 W. Walton are catching the attention of plenty of…

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Luxe Condos: Top Lakefront High-Rises in the Gold Coast Right Now

Given one of our main areas of focus is the Gold Coast real estate market, it goes without saying that we hold many Gold Coast condo buildings to a higher standard than other buildings across the city, which is especially true for those that sit on the lakefront.

In fact, the real beauty about Gold Coast condos for sale is that not only do units here occupy a place in one of downtown Chicago’s most affluent and historic neighborhoods, but they also offer some of the best unobstructed views of the water that you’ll find anywhere in the city. And if great views are a characteristic that’s especially high up on your wish list, there’s no better place to start your downtown condo search than right here in the Gold Coast.

So while it’s hard to narrow down any…

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Business Update: Amazon Warehouse Coming to Goose Island in Chicago

According to a report from Crain’s Chicago Business, online retail giant amazon.com has leased a warehouse in Goose Island, making its expansion into both Chicago and Illinois official. The space is a nearly 52,000 square foot warehouse at 1111 N. Cherry Avenue, and those close to the deal say Seattle-based Amazon has plans to bring at least 1,000 full-time jobs to its new Chicago location before 2017.

About 6 months ago, Amazon first hinted an expansion to Illinois, and more specifically Chicago, citing the need to keep up with the rising demand for same-day and next-day deliveries. Prior to the new Goose Island warehouse, the nearest Amazon facility, for now, is located in Kenosha, Wisconsin, however, Amazon is also planning an even larger distribution…

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Luxury Real Estate in Chicago Sees Healthy First Quarter

According to a recent release from RE/MAX Northern Illinois, the million dollar real estate market in Metro Chicago is alive and well, with transaction activity for luxury homes ($1 million and over) up 16% in the first quarter of 2015 from a year ago.

Along with a higher sales volume, units are also moving slightly faster as well, averaging just 144 days on the market, compared to 158 days during the first quarter of 2014. For those of us working in the Chicago real estate industry and dealing specifically in the luxury sector of the market, the latest quarterly figures are hardly surprising, and that’s of course not even factoring in the luxury rental market in downtown Chicago, which has been especially active since the post-recession development…

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